The Romanian pharmaceutical market increased by 10.6% last year, to RON 12.9 billion (EUR 2.8 billion), according to data provided by market research company Cegedim.

In the last quarter of the year, drug sales recorded an annual growth of 20%, reports local Ziarul Financiar.

In 2005, the local pharma market totaled RON 4.5 billion. By 2010, the market more than doubled to RON 9.6 billion.

With the exception of 2015, when the market recorded a negative result, the local pharma market has recorded constant growth in the last 12 years, according to Cegedim data. The market saw two-digit growth rates between 2006 and 2011, as well as last year.

At the moment, the local pharma market is going through a crisis because the large international pharma producers have threatened to withdraw thousands of drugs and vaccines from the market. They are unhappy with the authorities’ decision to cut drug prices.

Moreover, the parallel drug exports have left fewer drugs available on the local market. Exportable pharma products can hardly be found. Also, there is the danger that two-thirds of the products whose patent has expired may not be available in Romania due to the combination of the claw-back tax with new price reductions, said Petru Craciun, Cegedim general manager.

editor@romania-insider.com